Paul Krugman on Crises

For my (few) non-academic readers, every January Econ and Finance academics get together for the AEA/AFA meetings, the most important conference we have. (Off-topic: for anecdotes on how cheap economists are during these meetings, check this WSJ article)

This year they took place in Atlanta, where I heard was freezing relative to the nice weather in San Francisco last year. On top of presenting papers, interviewing job market candidates and going out for dinners with old friends, people also get to attend panels and luncheons with speeches by top people.

I just read Paul Krugman's summary of his Nobel luncheon speech on financial crises. It's a very good piece looking the effects of the current financial crisis relative to previous currency crisis.

Every time I think about currency crises, I think about Mark Twain's quote:  "History does not repeat itself, but it often rhymes."

Ig Nobel prizes

With the Economics Nobel prize announced yesterday (please don't come with the usual it's-not-an-actual-Nobel-prize story), it is always fun to remember research at the other end of the spectrum.

The Ig Nobel prize awards were announced this month as well, which aim is to reward " research that makes people laugh and then think". I particularlly like the "Growing Diamonds from Tequila" Chemistry award.

Perhaps they should have given Obama an Ig Nobel peace prize too! It surely made me laugh and then think... :)